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Disclaimer

This Presentation has been prepared by Lynas Corporation Limited (ABN 27 009 066 648) (Lynas or

the Company) This Presentation contains summary information about Lynas and its subsidiaries

(Lynas Group) and their activities current as at the date of this Presentation. The information in this

Presentation is of general background and does not purport to be complete or to comprise all the

information that a shareholder or potential investor in Lynas may require in order to determine

whether to deal in Lynas shares. It should be read in conjunction with Lynas Group’s other periodic

and continuous disclosure announcements lodged with the Australian Securities Exchange (ASX),

which are available at www.asx.com.au. This document is not a prospectus or a product disclosure

statement under the Corporations Act (Cth) 2001 (Corporations Act) and has not been lodged with

ASIC.

Not investment or financial product advice

This Presentation is for information purposes only and is not financial product or investment advice

or a recommendation to acquire Lynas shares and has been prepared without taking into account

the objectives, financial situation or needs of individuals. Before making an investment decision,

prospective investors should consider the appropriateness of the information having regard to their

own objectives, financial situation and needs and seek financial, legal and taxation advice

appropriate to their jurisdiction. Lynas is not licensed to provide financial product advice in respect of

Lynas shares. Cooling off rights do not apply to the acquisition of Lynas shares.

Financial data

All dollar values are in Australian dollars (A$) unless stated otherwise and financial data is presented

within the financial year end of 30 June 2019 unless stated otherwise. Any pro forma historical

financial information included in this Presentation does not purport to be in compliance with Article 11

of Regulation S-X of the rules and regulations of the US Securities and Exchange Commission.

Future performance

Past performance information given in this Presentation is given for illustrative purposes only and

should not be relied upon as (and is not) an indication of future performance. This Presentation

contains certain “forward-looking statements”. The words “expect”, “should”, “could”, “may”, “will,

“predict”, “plan”, “scenario”, “forecasts”, “anticipates” “estimates” and other similar expressions are

intended to identify forward-looking statements. Indications of, and guidance on, future earnings and

financial position and performance are also forward-looking statements. Forward-looking statements,

opinions and estimates provided in this Presentation are based on assumptions and contingencies

which are subject to change without notice, as are statements about market and industry trends,

which are based on interpretations of current market conditions. Such forward-looking statements

including projections, guidance on future earnings and estimates are provided as a general guide

only and should not be relied upon as an indication or guarantee of future performance. There can

be no assurance that actual outcomes will not differ materially from these forward-looking

statements.

Investment Risk and other risks

An investment in Lynas shares is subject to investment and other known and unknown risks, some of

which are beyond the control of Lynas Group, including risk factors associated with the industry in

which Lynas Group operates, such as: nature of mineral exploration and production; mineral and ore

reserves; operations risks; project development risks; market price and demand risk; credit and

market risks; regulatory, political and environmental risks; tax and other risks generally relating to

equity investment.

Not an offer

This Presentation does not constitute an offer to sell, or the solicitation of an offer to buy, any

securities in the United States. Any securities described in this Presentation have not been, and will

not be, registered under the U.S. Securities Act of 1933 (the “Securities Act”).

Disclaimer

Lynas and its affiliates, officers, employees, agents and advisers have not authorised, permitted or

caused the issue, dispatch or provision of this Presentation to any third party. Lynas, its related

bodies corporate and their respective affiliates, officers, employees, agents and advisers to the

maximum extent permitted by law, expressly disclaim all liabilities in respect of any expenses,

losses, damages or costs incurred by you as a result of the information in this Presentation being

inaccurate or due to information being omitted from this Presentation, whether by way of negligence

or otherwise, and make no representation or warranty, express or implied, as to the fairness,

currency, accuracy, reliability or completeness of information. The information in this Presentation

remains subject to change without notice.

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Key Metrics

ASX Ticker LYC

ISIN AU000000LYC6

Shares Outstanding as at 30

June 2019

667,802,000

Cash Balance (30 June

2019)

A$89.7m

Debt as at 30 June 2019 US$145m JARE

US$13.7m Conv

Bond

Enterprise Value A$1.5b

Uniquely positioned in the Market

Malaysia

A dynamic operation in Gebeng with

Cracking & Leaching, Solvent Extraction,

Product Finishing and opportunities for

further downstream processing.

Western Australia

Tier 1 deposit at Mt Weld:

Mining and Concentration.

Cracking & Leaching to be

relocated to WA by 2023

United States

MOU with a skilled US based

partner, Blue Line Corporation, to

produce separated Heavy Rare

Earths and value added Specialty

Materials.

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Continued strong financial performance in challenging conditions

▪ 2nd consecutive profit as Rare Earth company

▪ Record total REO production

▪ 19,737 tonnes (FY18: 17,753 tonnes)

▪ Record NdPr production

▪ 5,898 tonnes (FY18: 5,444)

▪ Strong cash flows from operating activities

▪ $104.1m (FY18: $118.5m)

▪ Total Group debts reduced

▪ $193.0m (FY18: $225.1m)

▪ Lynas NEXT project completed successfully

▪ Lynas 2025 growth plans announced

▪ Excellent sustainability and WHS performance awarded

by external assessors

NPAT $80.0m (FY18: $53.1m)

EBIT $56.4m (FY18: $81.0m)

EBITDA $100.7m (FY18: $121.9m)

Revenue $363.5m (FY18: $374.1m)

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FY19 Results

-60

-40

-20

0

20

40

60

80

100

120

140

FY15 FY16 FY17 FY18 FY19

EBITDA (A$m)

-150

-100

-50

0

50

100

FY15 FY16 FY17 FY18 FY19

NPBT (A$m)

0

5,000

10,000

15,000

20,000

25,000

FY15 FY16 FY17 FY18 FY19

REO

t

Production Volume REOt

NdPr (RTS) Others (RTS)

20

70

120

170

220

270

320

370

420

FY15 FY16 FY17 FY18 FY19

A$

'm

Sales Revenue (A$'m)

-60

-40

-20

0

20

40

60

80

100

120

FY15 FY16 FY17 FY18 FY19

Cash Flow (A$'m) (excl. AELB, Interest)

Net investing CF

Net operating CF

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Mt Weld in FY19

Lynas NEXT initiatives

▪ 2018 Mt Weld Mineral Resource and 2018 Mt Weld Ore Reserve:

▪ 70% increase in Mineral Resource contained

REO

▪ 60% increase in Ore Reserve contained REO

▪ Ore Reserve supports a 25+ year life at Lynas

NEXT rates (7000t NdPr/annum)

▪ 3rd Tailings Storage Facility (TSF3) completed and commissioned

▪ Pre-Rougher Stack Cell commissioned

Mining Campaign 3 in progress

▪ Overburden removal substantially completed▪ Mining and stockpiling of ore underway

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Lynas Malaysia in FY19

365 Days LTI freeRecord Production (total REO and NdPr)

Lynas NEXT initiatives

▪ Proven ability to produce NdPr at Lynas NEXT rates

▪ Successful start-up of new Nd and Pr separation circuit:

• Separated Nd oxide produced from December

2018

• Separated Pr oxide produced from February 2019

▪ New SX circuits optimised to increase production and quality of La and Ce

▪ Upgrade of product finishing circuits to accommodate increased product range

▪ Upgrade of kiln waste gas treatment circuits

▪ Improved MgO circuit to improve recoveries

▪ A 3rd larger water storage pond constructed and commissioned

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Balance sheet fit for growth

• Strong Balance Sheet

- Debt of US$158.7m of which US$13.7m is convertible bonds

- Cash Balance at 30th June 2019: A$89.7m

- Strong operating cash flow of A$222.6m over the last eight quarters or A$27.8m on average

per quarter

• JARE has extended its support to Lynas

- New terms were agreed with JARE on 27 June, 2019 regarding the existing JARE loan facility,

demonstrating the ongoing support from the Group’s lenders.

- The maturity date of the JARE loan facility has been extended to June 30, 2030 (previously

June 30, 2020). The interest rate on this facility is 2.5% p.a. at June 30, 2019 (previously

3.75% p.a.).

In light of this loan extension and the current cash position Lynas is confident of its ability

to self-fund the announced projects, based on current independent price forecasts.

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Spotlight on Rare Earths is creating opportunities

Geopolitics

US-China trade

tensions have led to

concerns about

security of supply and

single sourcing

Lynas is uniquely

positioned as the only

significant rest of world

Rare Earths producer

Market Dynamics

NdPr magnet market

currently weakened by

Chinese economy and

temporary slow growth

of automotive market

Catalyst market is

focused on long-term

security of supply and

Lynas has now

contracted all

Lanthanum production

Macroeconomics

Increased government

focus, in key markets,

on enhancing

manufacturing

capability for digital

age technologies

Lynas connects with

governments around

the world regarding

Rare Earths supply

chains

Strategic Partners

NdPr demand is

forecast to accelerate

from 2021 with launch

of most new EV

models

From H2 FY19, Lynas

has reserved all NdPr

production for strategic

customers

Key Customers are

progressively agreeing

long term supply and

pricing agreements

Market Pricing

NdPr published price

decreased in FY19

and despite a

temporary lift in Jun

2019 remains volatile

Lynas helps mitigate

sourcing risks through

long term agreements

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On 15 August 2019 the Malaysian government announced the

renewal of Lynas Malaysia’s operating licence

Subject to meeting specified conditions over the next six months,

the renewal provides a clear pathway for Lynas’ continued

operation:

▪ Cracking & Leaching relocated to WA within 4 years

▪ Lynas to build Permanent Deposit Facility (PDF) for WLP

residue

▪ 0.5% previously required to be invested in R&D to be submitted

to the Government of Malaysia as an additional security until

Cracking & Leaching relocated to Australia

Malaysian operating licence renewed

FY19 Malaysian media sentimentFY19 Social media sentiment

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Gold Medal awarded by Ecovadis – top 5% of 55,000 companies evaluated

Lynas made excellent progress on Sustainability initiatives in FY19

Joined United

Nations Global

Compact

Lynas became a signatory

the world’s largest

corporate sustainability

initiative, with over 13,000

participants who are

aligning operations with

universal principals on

human rights, labour,

environment and anti-

corruption

Life Cycle

Assessment

Lynas conducted Life

Cycle Assessments in

conjunction with

customers to provide

environmental assurance

on the Lynas Rare Earths

used in customer products

Gold Medal for

CSR

Lynas Malaysia was

upgraded to Gold from

Silver in the latest

EcoVadis CSR

assessment through

Together for Sustainability

initiative

Rated among top 5% of

55,000 companies

evaluated for performance

across the environment,

labour and human rights,

ethics and sustainable

procurement

Employee Health &

Safety award

Lynas Malaysia’s

commitment to the highest

WHS standards was

recognised:

Gold class award from

The Malaysian Society for

Occupational Safety and

Health (MSOSH)

Malaysia Best Employer

Brand Award Certification

from the World Federation

of HR Professionals

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▪ The safety of our people, our communities and the environment is our first

priority

▪ We aim to make a positive contribution to local employment, skills, education,

and health

▪ We provide meaningful opportunities for Lynas staff to directly contribute to their

communities

▪ We work with our local communities to be a productive & trusted community

member

Making a meaningful contribution to our communities

Voices from our local communities

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Facing the future with confidence

Mt Weld▪ A true Tier 1

Resource

▪ Continuing

exploration and

development to

maintain a 25+ year

Reserve at new

rates

Proven Operations▪ Established

operating assets

▪ Strong capital and

operating cost

culture

Market position▪ World’s second

largest Rare Earths

producer

▪ Only Rare Earths

miner and processor

outside China

▪ Established long-

term, trusted

relationships built

with our key

customers

Will to win▪ Corporate culture

founded on our

capable and

resilient people

▪ Focused on

building long term

shareholder value

Inhouse

Intellectual

Property▪ Technical,

Engineering and

Processing IP

positions Lynas as

the Rare Earths

Centre of

Excellence outside

China

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Lynas will continue to grow

Lynas today

▪ Uniquely positioned as the only significant rest of

world Rare Earths miner and producer

▪ Increased global significance of Rare Earths

▪ World-leading Rare Earths deposit at Mt Weld

▪ World’s largest processing plant in Gebeng,

Malaysia

▪ Strategic customer relationships in key markets

▪ Proven processing capability at Lynas NEXT rates

▪ Lynas NEXT capacity building program complete

▪ Lynas 2025 growth plans announced

▪ New loan facility terms agreed with JARE to

support self funding of capital investment

Lynas 2025

▪ A larger business to meet forecast demand growth

▪ Diversified Industrial footprint with processing

facilities in optimal locations

▪ Supplier of choice to non Chinese customers with a

fit for market product portfolio

▪ Enhanced earnings

▪ $500m Capital plan

Our track record underpins our confidence in the future

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Competent Person’s Statement

COMPETENT PERSON’S STATEMENTS– MINERAL RESOURCES

The information in this report that relates to the 2018 Mineral Resources is based on information compiled by Mr Alex Whishaw under the

guidance of Dr Andrew Scogings. Mr Wishaw and Dr Scogings are full-time employees of CSA Global. Mr Wishaw is a member of the

Australasian Institute of Mining and Metallurgy. Dr Scogings is a Member of the Australasian Institute of Mining and Metallurgy, a Member

of the Australian Institute of Geoscientists and an RPGeo (Industrial Minerals). Dr Scogings has sufficient experience relevant to the style

of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as Competent Person as

defined in the 2012 Edition of the Australasian Code for the Reporting of Exploration Results, Mineral Resources, and Ore Reserves

(JORC Code). Dr Scogings consents to the disclosure of information in this report in the form and context in which it appears.

COMPETENT PERSON’S STATEMENTS– ORE RESERVES

The information in this presentation which relates to the Ore Reserves estimate accurately reflect information prepared by Competent

Persons (as defined by the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves). The

information in this public statement that relates to the Mt Weld Rare Earths Project is based on information resulting from Feasibility

works carried out by Auralia Mining Consulting Pty Ltd. Mr Steve Lampron completed the Ore Reserve estimate. Mr Steve Lampron is a

Member and Chartered Professional (Mining) of the Australasian Institute of Mining and Metallurgy and has sufficient experience that is

relevant to the style of mineralisation and type of deposit under consideration and to the activity that he is undertaking to qualify him as a

Competent Person as defined in accordance with the 2012 Edition of the Australasian Joint Ore Reserves Committee (JORC). Mr Steve

Lampron consents to the inclusion in the document of the information in the form and context in which it appears.